Search for the best fintech companies in India and you will get the results displayed on your screen. Your search browser might show different results, but there are a few companies that are common these are the top fintech companies in India. A fintech company in simpler words, is the one that uses technology to modify, enhance, or automate financial services for businesses or consumers. The success of fintech companies in India has contributed to the development of the nation. This article is an attempt to list the top 10 fintech companies in India to make you aware of the same. 

The journey of fintech companies in India started in 2010 with Paytm when Vijay Shekhar Sharma decided to digitalize the payment system in India. With constant efforts now India has adopted the technology of digital payment. Almost every store in India has opted for digital financial services. Apart from digital payments, there are many services that have switched to digital. The traditional documentation methods have been changed and now India is a nation that is developing technology to make it add to the development. Here is the list made after research of the best fintech companies in India.  

Best FinTech Companies in India

Paytm

Paytm is recorded as the first fintech company in India, it was started in 2010 by Vijay Shankar Sharma who has been a stepping stone for the digital revolution of the payments system in India. Paytm is the acronym for pay through mobile. It is registered under the name of One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through its QR code. Paytm is a multinational fintech company which is headquartered in Noida. 

Paytm serves as a payment gateway for customers and merchants to make seamless payments from cards, bank accounts, and other e-wallets. Paytm also provides a range of payment facilities, such as mobile recharges, bill payments, movie tickets, taxis, train and flight tickets, loan payments, insurance, forex, etc.

Razorpay

Razorpay is the payment gateway that provides services to vendors, e-commerce, and retailers. Shashank Kumar and Harshil Mathur alumni of IIT Roorkee have started the company and now it has become one of the most renowned fintech company in India. 

The company is dealing with Financial Products, Payment Processing, Banking Services, Neobanking, Working Capital Loans, E-commerce Fraud Detection, Payroll Processing, etc. The company is headquartered in Banglore with an employment size of 1,001-5,000.

Simpl

Simpl is a buy now pay later (BNPL) company that allows customers to make purchases and pay for them in installments rather than upfront. It was founded in 2016. Simpl partners with merchants to offer its BNPL service to their customers, providing a payment option that allows customers to pay for their purchases in small, interest-free installments. It has gained popularity in India and Southeast Asia for its flexible and convenient payment options.

The company deals with products like Financial Technology, Payment Networks, and Consumer Services. Simpl is based in Bangalore and has been one of the best fintech companies in India. 

ClearTax

ClearTax was the first India-focused business to get funding from the US-based global accelerator Y-Combinator in 2014. In 2018, the organization said it assisted over 2.5 million unique taxpayers. They claimed in 2020 that over 6 million ITRs were completed, with annual payouts reaching $4 billion. It is among the best fintech companies in India and has been expanding its size. 

Currently the company provides services like Electronic filing of Income Tax Returns, Chartered, Accountant Tax Software, GST Software, Savings and Investments, Company Incorporation, Trademarking Startup Services.

My Mudra

My Mudra is among the fintech company in Delhi that is helping people get financial aid. They have taken a step to completely digitalize the process of financial services. The company is headquartered in Delhi with an employee size of 500-1000 people. With an initiative, they have tried to make loans a planned decision for people. 

Acko

They are providing products like Personal loans, Business Loans, Home Loans, Professional Loans, Insurance, Credit Cards, etc. They have been a helping hand to many people who are facing financial issues. 

Acko General Insurance is an Indian private-sector general insurance company. Varun Dua, the Chief Executive Officer of Acko General Insurance, established the company. Acko employs an online-led strategy, thus all operations of the business are conducted via the digital platform. Acko is backed by Sequoia India and Accel Partners, among others. It has also been recognized for its revolutionary approach, with Gartner labeling it a “Cool Vendor” in 2019.

Zerodha

Zerodha Broking Ltd. is a financial services company based in India. Nithin and Nikhil Kamath, two brothers, established the business in August 2010. The name Zerodha was selected as a mix of keywords for business ideals: zero and “Rodha,” the Sanskrit word for “barrier.” As of 2019, Zerodha was India’s largest retail stock broker by active customer base, accounting for up to 2% of daily retail transactions on Indian stock exchanges. With a self-assessment of around $1 billion, Zerodha entered the “unicorn club” in June 2020. They are dealing with products like Online Trading, Financial Networking and knowledge Center. 

CRED 

CRED is an Indian fintech business that offers a reward-based credit card payment application. Kunal Shah established it in 2018. Cred, according to Kunal Shah, is a TrustTech company as opposed to a FinTech one. By 2021, the business has boarded over 5.9 million customers and handled over 20% of all credit card bill payments in the country. Cred was named the official sponsor of the Indian Premier League from 2020 to 2022.

It is among the best fintech company in India and has been dealing with Credit and Lending Payments Apps. 

Conclusion 

The article above lists the best fintech companies in India. Get to know the fintech companies and increase your knowledge about the same. Fintech companies have been rising and taking technology to another level. Grasp the information and get to know about your country. Financial services and technology have a long way to go in India and it shall become the stepping stone towards the developed nation.